ZF Commercial Vehicle Control Systems India Limited
₹2,102.15-₹2.60 (-0.1%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹26,851 Cr
- P/E
- 56.3x
- EV / EBITDA
- 40.0x
- Revenue
- ₹3,804 Cr
- Net margin
- 10.7%
- ROCE
- 20.2%
Price chart
Technical chartScreen technicals →-83.6% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -10.0%
- 3M
- -11.7%
- 6M
- -85.7%
- 1Y
- -83.6%
- 5Y
- -72.1%
52-week range
Day change -₹2.60 (-0.1%) from ₹2,105 to ₹2,102 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in ZFCVINDIA, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 20.6%
Concerns0
Rule-based from financial data. Not advice.
About the company
ZF Commercial Vehicle Control Systems India Limited engages in supplying systems for automotive and industrial technology in India and internationally.
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ZF Commercial Vehicle Control Systems India Limited engages in supplying systems for automotive and industrial technology in India and internationally. The company offers air suspension solutions, automatic transmissions, axle drives and systems, brake components, brake control and systems, chassis components, condition monitoring system, control units, damping technology, driveline components, electric drives, functions, hardware, hybrid drives, mechatronic systems, power electronics, sensors, software, software and electronics, steering systems, and systems solutions. ZF Commercial Vehicle Control Systems India Limited was formerly known as WABCO India Limited and changed its name to ZF Commercial Vehicle Control Systems India Limited in March 2022. The company was incorporated in 2004 and is headquartered in Chennai, India. ZF Commercial Vehicle Control Systems India Limited is a subsidiary of WABCO Asia Private Limited.
- Sector
- Automobiles & Components
- Shares outstanding
- 1.9 Cr shares
- ISIN
- INE342J01019
- BSE code
- 533023
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹26,851 Cr
- P/E
- 56.3x
- P/B
- 7.9x
- EV / EBITDA
- 40.0x
- EV / Sales
- 7.0x
- P/S
- 7.1x
- Earnings yield
- 1.8%
- 52-week high
- ₹15,950.75
- 52-week low
- ₹2,080.20
Profitability
- Operating margin
- 14.9%
- Net margin
- 10.7%
- EBITDA margin
- 17.4%
- ROE
- 14.5%
- ROCE
- 20.2%
- ROA
- 12.0%
- Dividend payout
- 8.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 17.6%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹3,804 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.5%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 14.4%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹659 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 22.7%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 13.3%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.6%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹193 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -35.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹18.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.6%
Solvency and efficiency
- Current ratio
- 4.51
- Debt / Equity
- 0.00
- Debt / Assets
- 0.00
- Interest coverage
- 112.60
- Financial leverage
- 1.21
- CFO / Net profit
- 0.48
- Cash / Market cap
- 9.7%
- Cash per share
- ₹1,364.30
- Asset turnover
- 1.12
- Fixed asset turnover
- 5.66
- Capital intensity
- 0.18
- Debtor days
- 90 days
- Inventory turnover
- 14.04
- Cash conversion cycle
- 58 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹12 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹3,178 Cr |
| Sales | Operating profit | ₹626 Cr |
| Operating profit | Interest | ₹6 Cr |
| Operating profit | Depreciation | ₹123 Cr |
| Operating profit | Profit before tax | ₹497 Cr |
| Other income | Profit before tax | ₹109 Cr |
| Profit before tax | Tax and other | ₹148 Cr |
| Profit before tax | Net profit | ₹459 Cr |
Revenue and net profit
Revenue grew 0.5% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,864 Cr | ₹104 Cr |
| FY2022 | ₹2,543 Cr | ₹142 Cr |
| FY2023 | ₹3,445 Cr | ₹318 Cr |
| FY2024 | ₹3,784 Cr | ₹405 Cr |
| FY2025 | ₹3,804 Cr | ₹459 Cr |
Cash flows
FY2025: ₹274 Cr from operations, ₹63.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹138 Cr | ₹114 Cr |
| FY2022 | ₹138 Cr | -₹40 Cr |
| FY2023 | ₹299 Cr | ₹29 Cr |
| FY2024 | ₹193 Cr | ₹58 Cr |
| FY2025 | ₹274 Cr | ₹63 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹3,804 Cr+0.5%1Y
- Net profit
- ₹459 Cr+13.3%1Y
- Cash from operations
- ₹274 Cr
- Free cash flow
- ₹63 Cr+8.6%1Y
- Revenue CAGR, 5Y
- 14.4%
- EBITDA CAGR, 5Y
- 15.8%
- Net profit CAGR, 5Y
- 20.6%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹3,804 Cr | ₹626 Cr | — | ₹459 Cr | ₹274 Cr | ₹63 Cr | 14.3% | +0.5% | +13.3% |
Monthly returns
Month-by-month returns of ZFCVINDIA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹3,760 Cr |
| Equity capital | ₹9 Cr |
| Reserves | ₹3,201 Cr |
| Borrowings | ₹0 Cr |
| Other liabilities | ₹550 Cr |
| Assets | ₹3,760 Cr |
| Fixed assets | ₹729 Cr |
| Capital work in progress | ₹63 Cr |
| Investments | ₹31 Cr |
| Other assets | ₹2,937 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
ZFCVINDIA trades at 56.3x earnings against a peer median of 34.8x (a 62% premium).
Not shown (no positive earnings and no EV / Sales): Ather Energy Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| ZF Commercial Vehicle Control Systems India LimitedZFCVINDIAthis companyP/E ↑ premium | ₹26,851 Cr | 56.3x | 7.9x | 14.5% | 40.0x |
| Apollo Tyres LtdAPOLLOTYRE | ₹33,041 Cr | 42.8x | 3.1x | 11.1% | 11.3x |
| Motherson Sumi Wiring India LimitedMSUMI | ₹30,320 Cr | 49.4x | 16.4x | 38.0% | 29.5x |
| Exide Industries Ltd.EXIDEIND | ₹29,410 Cr | 28.3x | 1.9x | 8.0% | 14.7x |
| Sona BLW Precision Forgings LimitedSONACOMS | ₹28,406 Cr | 47.9x | 5.1x | 18.8% | 33.3x |
| Force Motors LimitedFORCEMOT | ₹26,491 Cr | 32.4x | 7.4x | 17.3% | 28.1x |
| Aegis Logistics Ltd.AEGISLOG | ₹25,428 Cr | 48.2x | 9.2x | 17.3% | 45.8x |
| Ather Energy LimitedATHERENERG | ₹24,950 Cr | — | 9.1x | -194.5% | -30.6x |
| Asahi India Glass Ltd.ASAHIINDIA | ₹24,510 Cr | 88.6x | 6.4x | 13.9% | 34.7x |
| Peer median | — | 34.8x | 5.2x | 16.1% | 21.0x |
Year-to-date ROI
ZFCVINDIA since 1 January, against earlier years.
Historical volatility
ZFCVINDIA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 11.0% |
| FY2022 | 10.0% |
| FY2023 | 14.0% |
| FY2024 | 15.0% |
| FY2025 | 16.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹3,804 Cr |
| Costs | |
| Interest | ₹6 Cr |
| Expenses | ₹3,178 Cr |
| Operating profitOperating Profit | ₹626 Cr |
| Other income and charges | |
| Profit before tax | ₹607 Cr |
| Tax | |
| Net profitNet Profit | ₹459 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹3,760 Cr |
| Equity capitalEquity Capital | ₹9 Cr |
| Reserves | ₹3,201 Cr |
| Borrowings | ₹0 Cr |
| Other liabilitiesOther Liabilities | ₹550 Cr |
| AssetsTotal Assets | ₹3,760 Cr |
| Fixed assetsFixed Assets | ₹729 Cr |
| Capital work in progressCWIP | ₹63 Cr |
| Investments | ₹31 Cr |
| Other assetsOther Assets | ₹2,937 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹274 Cr |
| Investing cash flowCash from Investing Activity | -₹211 Cr |
| Financing cash flowCash from Financing Activity | -₹44 Cr |
| Change in cashNet Cash Flow | ₹18 Cr |
Learn while you research
Academy chapters picked for ZF Commercial Vehicle Control Systems India Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 56.3, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Sectors & IndustriesHow to classify and compare companies across sectors.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read